dynaCERT
Announces Financial Results for the First Quarter of Fiscal 2017
TORONTO,
May 25, 2017 (GLOBE NEWSWIRE) -- dynaCERT
Inc. (TSX-V:DYA) (OTCQB:DYFSF) ("dynaCERT" or the "Company") is
pleased to announce that it has released its quarterly financial statements and
management discussion and analysis for the three months ended March 31, 2017
(fiscal Q1 2017). This press release should be read in conjunction with dynaCERT's financial statements and MD
& A for the
quarter ended March 31, 2017. These documents can be found on the company's
website or o
SEDAR.
Q1 Highlights
Revenue of
$1,380,350 on the delivery of 215 HG1 units
Gross profit of $653,502
Gross margin of 47%
Net operating income before stock based compensation of $199,188
Net income of $482,175
Cash balance at the end of Q1 of $1,093,944
Robert
Maier, COO of dynaCERT, states, “We
are executing well and gaining traction as we focus on the foundation of strong
distributor relationships. We are expanding into other markets for our suite of
HydraGENTM products.”
“I am
pleased with our first quarter results as we commenced commercial sales,” said
Jim Payne, President and CEO of dynaCERT.
“We are strengthening our management team and support for sales and product
installation. The growth potential for sales is both exciting and challenging
as we transform from an R&D company into a sales and manufacturing
organization.”
Non-IFRS Financial Measures
Financial
information has been prepared in conformity with IFRS. However certain measures
used in this press release do not have any standardized meaning under IFRS and
could be calculated differently by other companies. We believe that many
readers analyze our results based on certain non-IFRS financial measures
because such measures provide a better indicator of the performance of the
Company’s activities. Management uses such non-IFRS financial information to
evaluate the performance of its operations and managers. These measures should
be considered in addition to, not as a substitute for or superior to, measures
of financial performance prepared in accordance with IFRS.
About dynaCERT
Inc.
dynaCERT Inc. manufactures,
distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. Our
patent-pending technology creates hydrogen and oxygen on-demand through
electrolysis and supplies these additives through the air intake to enhance
combustion, resulting in lower carbon emissions and greater fuel efficiency.
Our technology is currently in use with on-road applications. Website: www.dynaCERT.com.
READER
ADVISORY
Except for statements of historical fact, this
news release contains certain "forward-looking information"
within the meaning of
applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect",
"project", "intend", "believe",
"anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or
"will" occur. In particular, forward-looking information in this
press release includes, but is not limited to: future issuances of shares,
approval by the TSX Venture Exchange. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We cannot guarantee
future results, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or
in part, as those set out in the forward-looking information.
Forward-looking information is based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
anticipated in the forward-looking information. Some of the risks and other
factors that could cause the results to differ materially from those expressed
in the forward-looking information include, but are not limited to: uncertainty
as to whether our strategies and business plans will yield the expected
benefits; availability and cost of capital; the ability to identify and develop
and achieve commercial success for new products and technologies; the level of
expenditures necessary to maintain and improve the quality of products and
services; changes in technology and changes in laws and regulations; the
uncertainty of the emerging hydrogen economy; including the hydrogen economy
moving at a pace not anticipated; our ability to secure and maintain strategic
relationships and distribution agreements; and the other risk factors disclosed
under our profile on SEDAR at www.sedar.com. Readers
are cautioned that this list of risk factors should not be construed as
exhaustive.
The forward-looking information contained in
this news release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward -looking information to conform such
information to actual results or to changes in our expectations except as
otherwise required by applicable securities legislation. Readers are cautioned
not to place undue reliance on forward-looking information.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release.
On Behalf
of the Board
Murray
James Payne, CEO
For more
information, please contact:
Jim Payne,
CEO & President
dynaCERT Inc.
#101 – 501
Alliance Avenue
Toronto,
Ontario M6N 2J1
(416) 766-9691
x 2 [email protected]
Investor
Relations
dynaCERT Inc.
Nancy
Massicotte
(416) 766-9691 x 1
[email protected]